National magazine names state one of best for business

NASHVILLE – Chief Executive magazine named Tennessee one of the top four states in the nation for business today in its eighth annual survey of Best and Worst States for Business.

More than 650 chief executive officers rated all 50 states in three general categories: taxation and regulation, quality of workforce and living environment. Tennessee ranked fourth for the second consecutive year. Rounding out the top five were Texas, Florida, North Carolina and Indiana.

“It is an honor to be recognized by Chief Executive magazine for the hard work beginning done in our state,” Bill Hagerty, commissioner, Tennessee Department of Economic and Community Development, said. “Governor Haslam is a successful business man himself, so he understands exactly what companies are looking for when relocating and expanding. It’s with his insight and leadership that we are continuously working to create and maintain a business friendly environment that encourages companies to grow and invest in Tennessee.”

The magazine sited two examples of CEO comments on the survey:

“Recently moved from New York state to Tennessee. Differences in ambience/climate/cost of living/attitude of government towards business are outstanding!”

“Good states have quality work force, affordable housing, good infrastructure and business friendly regulations with low income taxes, none of these apply to Illinois or California but do so in Tennessee and Texas.”

The Chief Executive magazine honor is the latest in a number of awards Tennessee has received for its economic development efforts recently.

In March, Trade & Industry Development magazine named Amazon.com, Inc., General Motors, Quaprotek USA, MANN+HUMMEL USA and the Tennessee Department of Economic and Community Development among the recipients of its 2012 Corporate Investment & Community Impact (CiCi) Awards, totaling the most for any state. Tennessee earned a strong ninth place finish in the annual Site Selection magazine’s Governor’s Cup for economic development and was ranked among the top 10 states in the U.S. for best business climates. The magazine also recognized Amazon.com, Inc. as one of the Top Deals of 2011.

To read the full Chief Executive magazine’s Best and Worst States for Business article, visit http://chiefexecutive.net/best-worst-states-for-business-2012.